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The NMNM (Nouveau Musée National de Monaco) and UBS Monaco have renewed their partnership, continuing a collaboration that has lasted for five years.
Agnes Falco, Managing Director, General Manager of UBS (Monaco) SA, said: "As an economic actor of Monaco for more than 60 years, it is our responsibility to make a lasting commitment to develop the attractiveness of the market by investing both in the development of our offers and services and in supporting Contemporary Art is part of the DNA of the UBS brand.
Ms Falco added, “This partnership with the NMNM reflects our deep desire to actively participate in the cultural development of the Principality, by allowing the Museum to perfect its collection and to be able to offer an exhibition programme within Villa Paloma and Villa Sauber throughout the year.”
Welcoming the renewal of the bank’s support, Marie-Claude Beaud, Director of the New National Museum of Monaco, commented: “From the beginning of our partnership and to this day, we have been fortunate to have support and understanding of a rare philanthropic quality in relation to our needs and requests.
Thanks to UBS, for the year 2018 and those to come, we will be able to continue our research and carry out a complete programme of amazing and original exhibition projects.”
Among the highlights of the 2018 programme, the NMNM will present an exhibition of ten recent acquisitions that have integrated the Museum's collections with the support of UBS. The artists honoured in this first instalment are Matti Braun, Natalie du Pasquier, Francesco Gennari, Apostolos Georgiou, Jef Geys, Joao Maria Gusmao plus Pedro Paiva, Jean-Michel Sanejouand and Daniel Steegmann Mangrane.
From the beginning, the NMNM, with the support of UBS, has been able to develop important exhibitions and publications but also to acquire works of art. Several projects were also able to be realised in collaboration with the presentation of works from the UBS Art Collection starting with Ed Ruscha's works on paper in 2013, in the Table of Contents of Villa Paloma, a series highlighting a work by an artist honoured John Baldessari in 2014 and Thomas Struth in 2016.
The same year at the NMNM an exhibition by Thomas Demand connected the works of the collection of the UBS Art Collection Museum, and an off-the-wall project was embodied by the immersive installation "cloak" by the British artist Mike Nelson in the Monegasque headquarters of UBS Avenue of Great Britain, then in the process of renovation.
This article addresses the increasing interest by Families on how to be philanthropic, especially from the Millennial (18-35 year olds) members.
There are many reasons, ranging from wealth and tax planning, to brand building, to much more personal motivations, that people may decide to get involved in philanthropy.
Philanthropy is now in vogue, widely celebrated, and adopted as a worthy lifestyle choice amongst the wealthy. We know that philanthropy is on the rise, too. According to the Coutts Million Dollar Donors Report, $56 billion (€47 billion) donations of more than $1 million (€840,000) were made in 2015 – a significant rise from the previous year.
Giving can be a hugely rewarding experience. Getting to know the dynamic individuals and organisations working at the frontline of social change is enriching and humbling. And such engagement can cut across different aspects of your life – from involving the family and even the children in planning and choosing donations, to engaging companies and their employees.
One of the best reasons to give is that the world needs it. Philanthropy has often played a hugely important role in the development of just, democratic societies. Now more than ever – with such global and complex challenges as global under-nutrition, gender inequality, climate change and the refugee crisis – philanthropy has a very important role to play.
What are some of the challenges donors face?
While the journey of a philanthropist is a privileged and rewarding one, it’s not easy to be effective. Here are some of the key pitfalls:
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Feeling overwhelmed by need. The sheer scale of today’s social challenges can be overwhelming. It is said, for example that the global economy will lose $12 trillion (€10.06 trillion) if greenhouse gases are not tackled, and that $3.5 trillion (€2.93 trillion) is lost every year due to global under-nutrition. These are staggering figures, but we mustn’t be disheartened. Private wealth has resources to contribute to this challenge, but they need to be allocated wisely. The great news is that with strategic thinking, even a $26,000 (€21,800) donation could have a catalytic effect in a chosen field.
Defining purpose and value-add. We live in an age of information overload and there will be competing demands for a donor’s attention. The challenge for any donor is how to focus their involvement – this takes a good filtering system and often some solid support. Defining your own purpose and value-add within your chosen field is the true challenge and opportunity of every philanthropist.
Finding great opportunities. The causes that shout the loudest are not necessarily the most effective. Unlike the corporate world, assessing organisations and causes is not straightforward as there is no single bottom line to be compared. There is no stock market for charitable causes. It often takes expertise and/or time and immersion into particular cause areas to find fantastic causes that resonate with your purpose and goals.
Regulatory and risk issues. Donors do not often realise the myriad risk, legal and tax considerations in giving. Setting up your own charitable foundation is an appealing option, but comes with its own regulation and governance requirements. The level of transparency that is needed often surprises and frustrates donors, particularly if giving overseas. It is worth taking advice on the right structure for your giving early on.
Power dynamics. Funders need to be aware that they can influence entire sectors of work (not always positively) by how and what they choose to fund. It’s easy for new donors to wade into subjects with hubris, particularly if they’ve been successful businessmen or women. Unequal power dynamics between funder and recipient do not help to create an honest relationship. Trying to solve a social problem (which is really what this is all about) can take many years, often decades – think of the abolition of slavery, for example, which was pushed forward by a strong civil society movement backed by philanthropic support. It takes patience, focus, and – critically – collaboration across sectors.
Top tips for new philanthropists
Understand the change you want to see and try to think strategically. Understand what change you want to see in the world and work backwards from there. Philanthropy can be catalytic when targeted carefully, but should be informed by a good mix of passion and evidence in order to be really effective.
There are already 160,000 charities in the UK, so be brutally honest about whether you have something new to offer by setting up a new initiative or charitable foundation. A good example is Warren Buffet, who has pledged to give 99% of his substantial wealth to philanthropic causes, the majority of which will go to the Bill & Melinda Gates Foundation. Buffet recognises the critical importance of both leverage and avoiding duplication. Sometimes it is worth funding someone else’s initiative rather than reinventing the wheel.
Acknowledge what you don’t know
Get informed. Meet people and organisations. Understand the issues in which you are interested. And don’t expect to go it alone. We know that donors give more when they seek and receive good advice – be it from other, experienced philanthropists, or professionals. Support can help you to filter information, find and assess great causes, and ensure you are meeting all legal requirements. It will enable you to focus on the fun and rewarding parts of philanthropy while ensuring you see the fruits of your contribution much more quickly.
Make a start
Have a go in one area of interest. Make smaller and simpler contributions initially until you are more comfortable with the process. If there’s one thing I’ve witnessed in my years of working in this space, it’s that donors learn best by doing – so just make a start, and have fun with it!
Article first published September 6, 2017. Mark Estcourt is CEO of Cavendish Family Office in London. For more information, see cavfo.com. This article was written in association with one of our Strategic Partners, Juliet Cockram Agnew who is Head of Philanthropy at I.G Advisors.
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As part of a reflection on the conservation of artistic heritage and the relationship to time, the New National Museum of Monaco welcomes artist Michel Blazy to Villa Sauber.
Born in Monaco, Michel Blazy has earned an international reputation thanks to his installations integrating living materials.
Three living works of the 51-year-old will be exhibited until March 18, 2018 at 17 avenue Princesse Grace.
Co-produced by the NMNM and the Government’s Cultural Affairs Department for the last edition of the Venice Biennale, Blazy’s Shoe Collection is a presentation of worn shoes, which serve to pot plants. A luminous frame encircles the sculpture and an irrigation process allows the plants to grow.
Soft Nature, which was acquired by the NMNM in 2009, consists of vegetables and fruit stuck with flake glue on a tablecloth made of the same material. The work invites the public to follow the slow transformation and disappearance of components, like agar dishes.
The third piece, the NMNM Collection’s Skin Animal, is made from cotton layered with chocolate dessert cream.
Villa Sauber is open daily 10am-6pm. Admission: €6
Toll charges on French motorways are due to rise on February 1 by a bigger amount than in the past two years, when the increase was limited to one percent each year.
According to a report in the Journal de Dimanche, the average increase will be between 1.03 and 2.04 percent, depending on the region. While the newspaper had access to these Ministry of Transport internal documents before the weekend, they will be made public on Thursday at a meeting of the Road Users Committee.
The regional variation in increases will depend on whether the operators have carried out major projects on their networks, to be financed by toll charges. Otherwise the tolls are regulated by the prevailing rate of inflation.
Described as “a major first for Monaco”, an event inspired by the grand Venetian balls will take place over several days in February.
The theme of “Venice in Monte-Carlo” will be “love”, and the event will inaugurate the season of prestigious carnivals throughout the world, visitmonaco says.
On Friday February 3, the opening party will take place at the Monaco Yacht Club, with artists and acrobats in period costumes.
On the following evening, a lavish and sophisticated Grand Venetian Ball, held under the High Patronage of HSH Prince Albert, will take place at the Salle d'Etoiles, following a gastronomic dinner. The three-day event will draw to a close on Sunday, February 5, and a parade of fifty or so artists in period Venetian costumes will take place in the Place du Casino and at the Café de Paris, where hot chocolate will be offered to children.